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Derivatives and Hedging Activities (Tables)
 3 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value, Notional Amount and Balance Sheet Classification
The following tables present the fair value, notional amount and balance sheet classification of derivative assets and liabilities at December 31, 2022 and September 30, 2022.

December 31, 2022Derivative AssetsDerivative Liabilities
Interest rate contract purposeBalance Sheet LocationNotionalFair ValueBalance Sheet LocationNotionalFair Value
(In thousands)(In thousands)
Client swap program hedgesOther assets$583,782 $63,383 Other liabilities$583,782 $63,383 
Commercial loan fair value hedgesOther assets39,661 2,447 Other liabilities— — 
Mortgage loan fair value hedgesOther assets470,000 33,986 Other liabilities— — 
Borrowings cash flow hedgesOther assets1,000,000 173,139 Other liabilities— — 
$2,093,443 $272,955 $583,782 $63,383 

September 30, 2022Derivative AssetsDerivative Liabilities
Interest rate contract purposeBalance Sheet LocationNotionalFair ValueBalance Sheet LocationNotionalFair Value
(In thousands)(In thousands)
Client swap program hedgesOther assets$588,676 $67,260 Other liabilities$588,676 $67,260 
Commercial loan fair value hedgesOther assets42,209 2,517 Other liabilities— — 
Mortgage loan fair value hedgesOther assets470,000 36,765 Other liabilities— — 
Borrowings cash flow hedgesOther assets1,000,000 179,945 Other liabilities— — 
$2,100,885 $286,487 $588,676 $67,260 
Schedule of Fair Value Hedge Accounting on Carrying Value of Hedged Items The following tables present the impact of fair value hedge accounting on the carrying value of the hedged items at December 31, 2022 and September 30, 2022.
(In thousands)December 31, 2022
Balance sheet line item in which hedged item is recordedCarrying value of hedged itemsCumulative gain (loss) fair value hedge adjustment included in carrying amount of hedged items
Loans receivable (1) (2)$1,131,282 $(35,958)
$1,131,282 $(35,958)

(1) Includes the amortized cost basis of the closed mortgage loan portfolios used to designate the hedging relationships in which the hedged items are the last layer expected to be remaining at the end of the hedging relationships. At December 31, 2022, the amortized cost basis of the closed loan portfolios used in the hedging relationships was $1,094,211,000, the cumulative basis adjustment associated with the hedging relationships was $(33,423,000), and the amount of the designated hedged items was $470,000,000.
(2) Includes the amortized cost basis of commercial loans designated in fair value hedging relationships. At December 31, 2022, the amortized cost basis of the hedged commercial loans was $37,071,000 and the cumulative basis adjustment associated with the hedging relationships was $(2,535,000).


(In thousands)September 30, 2022
Balance sheet line item in which hedged item is recordedCarrying value of hedged itemsCumulative gain (loss) fair value hedge adjustment included in carrying amount of hedged items
Loans receivable (1) (2)$1,159,496 $(39,090)
$1,159,496 $(39,090)

(1) Includes the amortized cost basis of the closed mortgage loan portfolios used to designate the hedging relationships in which the hedged items are the last layer expected to be remaining at the end of the hedging relationships. At September 30, 2022, the amortized cost basis of the closed loan portfolios used in the hedging relationships was $1,119,975,000, the cumulative basis adjustment associated with the hedging relationships was $(36,458,000), and the amount of the designated hedged items was $470,000,000.
(2) Includes the amortized cost basis of commercial loans designated in fair value hedging relationships. At September 30, 2022, the amortized cost basis of the hedged commercial loans was $39,521,000 and the cumulative basis adjustment associated with the hedging relationships was $(2,632,000).
Schedule of Impact of Derivative Instruments
The following table presents the impact of derivative instruments (cash flow hedges on borrowings) on AOCI for the periods presented.

(In thousands)Three Months Ended December 31,
Amount of gain/(loss) recognized in AOCI on derivatives in cash flow hedging relationships20222021
Interest rate contracts:
Pay fixed/receive floating swaps on borrowings cash flow hedges$(6,806)$6,446 
Total pre-tax gain/(loss) recognized in AOCI $(6,806)$6,446 
The following tables present the impact of derivative instruments (client swap program) that are not designated in accounting hedges under ASC 815 for the periods presented.

(In thousands)Three Months Ended December 31,
Derivative instrumentsClassification of gain/(loss) recognized in income on derivative instrument20222021
Interest rate contracts:
Pay fixed/receive floating swapOther noninterest income$(3,878)$5,039 
Receive fixed/pay floating swapOther noninterest income3,878 (5,039)
$— $— 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location The following tables present the gain (loss) on derivative instruments in fair value and cash flow accounting hedging relationships under ASC 815 for the periods presented.
Three Months Ended December 31, 2022Three Months Ended December 31, 2021
Interest income on loans receivableInterest expense on FHLB advancesInterest income on loans receivableInterest expense on FHLB advances
(In thousands)(In thousands)
Interest income/(expense), including the effects of fair value and cash flow hedges$203,946 $(18,974)$138,509 $(7,843)
Gain/(loss) on fair value hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives$3,167 $(1,371)
Recognized on derivatives(2,849)4,500 
Recognized on hedged items3,132 (4,475)
Net income/(expense) recognized on fair value hedges$3,450 $(1,346)
Gain/(loss) on cash flow hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives$7,274 $2,021 
Amount of derivative gain/(loss) reclassified from AOCI into interest income/expense— — 
Net income/(expense) recognized on cash flow hedges$7,274 $2,021